Can Comprehensive Financial Planning Help You Avoid Boredom In Retirement?

Can you imagine retiring and not having anything to do?  Even worse, can you imagine retiring and not having the money necessary to enjoy the activities you have in mind?  This is the nightmare scenario that some Americans face in their supposed golden years.  However, if you are not yet retired, you still have time remaining to set the stage for a truly enjoyable retirement in which you are active and most importantly, happy.


Don’t Be Afraid To Ask For Help From The Retirement Planning Experts

Whether you recently retired or a pre-retiree, you have the power to plan for the future and reach your financial goals.  However, you can’t perform the entirety of your retirement planning on your own.   There is no shame in asking for help.  In particular, the assistance of a CERTIFIED FINANCIAL PLANNER™ Professional may prove absolutely invaluable.  

This professional makes it that much easier to perform truly comprehensive financial planning that sets the stage for you to be active throughout the entirety of your retirement.  This is the expert assistance you need to ensure you have more than enough money necessary to golf, ski, take cruises, travel to new destinations, and ultimately live life to the fullest while retired.  

Are you on the right financial path? Contact Prism Planning Partners today for a consultation! 

The alternative is to hope and pray your current saving for retirement plan (or lack thereof) is adequate to prevent boredom during retirement.  Why bother taking such a risk when a CERTIFIED FINANCIAL PLANNER™ Professional worthy of your trust is a phone call away?  Be proactive, tap into the expertise of a CERTIFIED FINANCIAL PLANNER™ Professional and you will rest easy knowing you have more than enough money to remain active through your golden years.


The Right Financial Plan for Your Nuanced Retirement Goals

Take a moment to envision your ideal retirement.  Perhaps your goal is to go golfing once each week.  Maybe you want extra spending money to use when out and about with your grandkids.  Some retirees look forward to traveling the globe.  Others want to spend their golden years playing tennis, skiing, or hanging out at the country club.  

The common theme amongst all of the retirement activities listed above is they require money.  This is precisely why it makes sense to create a retirement plan tailored to your unique retirement goals.  A financial planner will tailor the details of your financial plan to your specific financial status, goals, and plans for retirement.  From Social Security benefits to cash flow, budgeting, investments, tax planning, and beyond, your CERTIFIED FINANCIAL PLANNER™ Professional will provide helpful guidance that can help make your retirement dreams come true.


Save and Invest

It is unwise to spend the majority of your paychecks during your working years.  Instead, you may want to consider what percentage of each paycheck you could be saving and investing.  Though investing in stocks, mutual funds other opportunities are certainly risky, especially during an economic contraction, it does not make sense to keep all of your money in cash.  

The interest rate in a bank savings account, in all likelihood, will not keep pace with inflation.  In other words, the money you keep in a bank savings account gradually loses value as time progresses and money inflates.   

So don’t assume merely saving money will suffice in the context of enjoying a fulfilling retirement.  The moral of this story is your money should work as hard for you as you did to earn it in the first place.  Meet with your CERTIFIED FINANCIAL PLANNER™ Professional to discuss the optimal balance between cash and investments, heed this advice and watch your money grow in the decades ahead.


When in Doubt, Keep Working!

Can you imagine being the first member of your social circle to retire?  You wouldn’t have anyone to hang out with but for your spouse, assuming he or she is retired.  Though you might have grandkids, spending more than a couple of hours with them per day will prove exhausting.  This is precisely why you may want to consider remaining in the workforce, possibly all the way up until age 70 to maximize your Social Security payments.  

Consider coordinating your retirement with your spouse’s or those in your social circle and you will always have someone to hang out with, whether you want to watch a movie, get brunch, hit the links, or do anything else in the company of others.  

Furthermore, it must be noted that if you do decide to remain in the workforce it will provide much-needed social stimulation while adding to your savings and investments all the more.  

Continue working until your late 60s or the age of 70 and you will have maximized your earnings as well as your Social Security income for the years ahead, ultimately ensuring you have more than enough money to avoid boredom during retirement.  

After all, what sense is there in retiring if you don’t have enough money to spend on enjoying life?  If your limited savings mean you will be sitting around all day, worrying about your money, you might as well continue working until you reach the point where you can comfortably retire, segueing to active golden years that make all of your hard work worthwhile.


Picture the Ideal Retirement and Make It Happen

If you are like most people, your identity is wrapped up in your career.  After a 40-50 hour workweek, there is precious little time remaining to carve out an identity of any sort.  Mix in a kid or two and you have even less time for yourself.  However, retirement provides a fantastic opportunity to explore your own identity and get the most out of life.  

If you can’t envision yourself doing anything in particular after retiring, revert back to your childhood dreams.  Perhaps you have always wanted to spend a week camping in the wilderness, visit theme parks, golf the world’s best courses or simply taking a road trip to see America in all its beauty.  

Dig deep, think about what you would like to do with your upcoming free time, and meet with a CERTIFIED FINANCIAL PLANNER ™️ Professional to determine how to best plan for these golden years ahead.  Save, invest and continue working while heeding a custom-crafted comprehensive financial plan and you will be well on your way to enjoying a truly fulfilling retirement.  

At Prism Planning Partners, we are CERTIFIED FINANCIAL PLANNER™️ Professionals committed to facilitating important questions so that we can help you explore all of your opportunities. We offer a broad array of financial planning and consulting services for our clients-including retirement, investment, and estate planning.

Contact us today and let us illuminate your possibilities!

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Prism Planning Partners, LLC dba Prism Planning Partners is a Registered Investment Adviser. This article was produced by Paladin Digital Marketing, an entity unrelated to Prism Planning Partners and may not necessarily reflect the expertise of this financial advisor. This publication is not intended to provide investment advice and is intended for your information only. Opinions and forward-looking statements expressed are subject to change without notice. Information based upon third-party sources and data are believed to be accurate and reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. All domestic and international rights are reserved. No part of this publication including text, graphics, et al, may be reproduced or copied in any format, electronic, print, et al, without written consent from Prism Planning Partners. Neither Prism Planning Partners, nor its investment advisor representatives provide legal or tax advice. Please be advised to consult your investment advisor, attorney or tax professional before making any investment decisions. 
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